Longboat Key Estate Serenissima Closes for $16.5 Million, Becoming the Highest Residential Transaction in the Tri-County Region. Michael Moulton, Broker-Associate, CRS of Michael Saunders & Company Represented the Sellers
An architectural masterwork along the shores of Longboat Key closed today for $16.5 million, making it the highest registered residential purchase ever in the tri-county region. Michael Moulton of Michael Saunders & Company represented the sellers of the iconic Venetian-style estate located at 845 Longboat Club Road behind the gates of the exclusive Longboat Key Club. Moulton has represented the property since its initial listing in 2017.
“It is a great honor to represent the sellers of this record-setting, residential transaction. A home like this creates an exciting showing process…the exacting structural elements, intricate design details, breathtaking décor, immense size and especially the water views,” said Moulton. “I had worked with the sellers on a prior real estate transaction and was delighted that based on that experience they trusted me to guide them through the complex process of selling their impressive estate, screening those interested, and navigating them through the many details that go into the transition of ownership for such an outstanding home.”
While it’s common knowledge the real estate industry is built on relationships, it is uncommon that a real estate agent would retain an ultra-luxury listing for longer than one year let alone three.
"It is rare that a single agent has the privilege of retaining a listing for such an extended period. That alone speaks to the caliber of service Michael offers to his customers,” said Michael Saunders, Founder and CEO of Michael Saunders & Company. “As with any home that owners have poured their heart and soul into, it is important for an agent to understand the emotional element involved. What began as a business relationship quickly transformed into a personal one in which both parties had a mutually passionate interest in finding just the right buyer for this very special residence.”
Dubbed Serenissima, “the most serene,” the incomparable estate poised on 1.18 acres along the Gulf of Mexico is spoken of locally as one of the most stunning homes to come to market. Its premier location on the southern end of Longboat Key provides dynamic vistas of sea, sand and sky – accented by exceptional architectural Mediterranean detail displayed by a multi-story, marble-clad main hall capped by a glass sky dome. Other features include a magnificent grand salon that easily accommodates 100 guests, a master chef’s kitchen, 10-seat theater, sunroom, and sweeping open-air pool terrace with infinity pool overlooking the beach and Gulf of Mexico.
According to a November report of the Gulf Coast luxury market, there have been 89 sales of single-family homes over $3 million across the Sarasota, Manatee, and Charlotte counties. Michael Saunders & Company agents were involved in 52% of those transactions, reinforcing the company’s success in the ultra-luxury market. In the last five years, the independent firm has set multiple sales records on Casey Key, Siesta Key, Longboat Key, the Island of Venice, and in Lakewood Ranch.
Serenissima is now the highest registered residential transaction in the region’s history on the Gulf Coast. Michael Saunders & Company’s research analyst keeps a close eye on the luxury and ultra-luxury markets in the region and notes the buyer interest and prestige of the Gulf Coast barrier island has been growing over the past decade – accelerated further by the Covid-19 pandemic. Sales of homes over $5 million in the local area have increased 57% year-over-year in 2020, and with the upcoming Residences at the St. Regis, this trend is expected to continue.
“Longboat Key’s privacy, natural beauty and value make it a coveted location for luxury buyers around the world,” said Sharon Gould, Michael Saunders & Company’s Longboat Key Branch Manager. “This interest has grown exponentially with remote work capabilities and the desire to have more space and time with loved ones at home. The company’s global reach through Luxury Portfolio International, its London-based affiliate, Mayfair Internaitonal Realty and its intimate local knowledge has truly elevated the recognition of Longboat Key as a desirable place to live.”
Michael Moulton is located at the Michael Saunders & Company Longboat Key South office at 440 Gulf of Mexico Drive and can be reached at 941.928.3359 for additional comment.